Sumitomo Mitsui Trust Group Inc. decreased its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 93.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,956 shares of the company's stock after selling 42,633 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Globe Life were worth $313,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Savant Capital LLC grew its position in Globe Life by 951.5% during the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company's stock worth $6,189,000 after acquiring an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. grew its position in Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company's stock worth $2,443,000 after acquiring an additional 17,878 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Globe Life by 308.5% in the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company's stock valued at $1,377,000 after buying an additional 8,932 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Globe Life in the 2nd quarter valued at about $15,483,000. Finally, UniSuper Management Pty Ltd grew its position in shares of Globe Life by 578.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 8,432 shares of the company's stock valued at $981,000 after buying an additional 7,189 shares during the last quarter. Institutional investors own 81.61% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.
Read Our Latest Report on GL
Globe Life Stock Up 0.3 %
Shares of Globe Life stock traded up $0.33 on Thursday, hitting $109.09. The company had a trading volume of 282,310 shares, compared to its average volume of 1,508,502. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 9.20 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a 50 day moving average of $107.39 and a 200-day moving average of $95.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.
Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, sell-side analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.
Globe Life Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio is presently 8.12%.
Globe Life Profile
(
Free Report)
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
Read More
Before you consider Globe Life, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Globe Life wasn't on the list.
While Globe Life currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
